Arsenal's Transfer Dilemmas: Pursuing Álvarez and Managing Martinelli
Arsenal thrashed Coventry 3-0 on opening night. The football was slick, the mood buoyant. Yet behind the scenes, this is a summer of sharp edges and hard decisions in north London.
The Gunners want more. Specifically, more firepower.
Alvarez dream, Barcelona reality
Julian Álvarez sits at the top of Arsenal’s wishlist. He knows it. Atlético Madrid know it. So do Barcelona.
David Ornstein summed up the dynamic bluntly, explaining that Arsenal “would like to improve their frontline further” and that a move back to England is what Atlético would prefer. A deal with Arsenal is viewed as far more realistic than with Barça, where, in Ornstein’s words, “the doors are closed.”
The snag? Álvarez doesn’t see it that way. His dream remains Barcelona. Reports in Spain say Mikel Arteta has been in contact with the Argentine for some time, but the message from the player has not shifted – he wants Barça.
Atlético, though, are open to selling him abroad and have already met Arsenal to discuss conditions for a departure. The price is high, the stance firm, but not immovable. If Barcelona cannot find a way to make their move work, and if Atlético land Chelsea’s Nicolas Jackson – a loan deal their director of football Mateu Alemany is in London to negotiate – the dominoes could fall in Arsenal’s favour.
Gary Neville is in no doubt what that would mean.
“If Arsenal get Alvarez it would light this place up,” he told Sky Sports. “They would then have a world-class striker and they could not only win the Premier League again, but go that extra step and win the Champions League as well.”
Havertz makes his case
While Arsenal chase Álvarez, Kai Havertz is quietly – and now loudly – staking his own claim.
The German has returned from an injury-hit campaign in sharp form. He scored in the Community Shield against Manchester City, then again against Coventry, adding to his growing catalogue of big-game moments. This is the same player who scored Chelsea’s Champions League final winner in 2021 and then netted in Arsenal’s Champions League final against PSG in May.
Havertz shared striker duties with Viktor Gyokeres last season, but his recent run suggests he is ready to lead the line. His performances are beginning to justify that £70m fee and pose a simple question: do Arsenal really need to break the bank for another No 9 if Havertz keeps delivering?
Neville still believes a different profile of striker – someone who runs in behind more than Havertz or Gyokeres – would unlock even more from Martin Ødegaard. But for now, Havertz is doing everything in his power to make Arteta think twice about splashing out.
Martinelli in limbo, Yildiz in focus
The flip side of Arsenal’s attacking refresh is Gabriel Martinelli’s increasingly bleak situation.
The Brazilian has already rejected an approach from Galatasaray this summer, yet remains on the chopping block after a poor season. Inter Milan, Roma, Atlético Madrid and Juventus are all interested, with Arsenal holding out for around €60m. He did not even make the match-day squad for the win over Coventry.
Ian Wright is deeply uneasy with how this is playing out.
“In respect of Martinelli and the way Martinelli is being treated at the moment, it really makes me feel uncomfortable,” he told Sky Sports. “Not being involved in the squad, not being spoken to, doesn’t know what’s going on. I know this, I know this.”
The situation is sharpened by Arsenal’s pursuit of Juventus forward Kenan Yildiz. Ornstein has already stated that Arsenal “like Kenan Yildiz, but the doors are closed from Juventus.” The Independent reports the 21-year-old has re-emerged at the top of their list after Vinicius Jr signed a new deal at Real Madrid, with Juve valuing him at around €70m after an 11-goal season across all competitions.
One possible solution being explored, according to reports, is a swap deal: Martinelli to Turin, Yildiz to London. It would tick two boxes for Arsenal – refresh the left wing and resolve an increasingly awkward standoff with a player who has given them plenty.
Whether Juventus open those “closed” doors is another matter.
Konsa arrives, White on alert
At the back, the picture is clearer. Arsenal have got their man.
Ezri Konsa has completed his move from Aston Villa in a deal worth around £51m, with a potential extra £4m in add-ons. With William Saliba sidelined, Arteta needed another established defender. Konsa brings exactly that: Premier League pedigree, England experience, and the ability to play both centrally and at right-back.
Sporting director Andrea Betra did not hold back in his praise.
“We’re delighted to have completed the signing of Ezri Konsa,” he said. “Ezri is a defender of high quality, whose athleticism, composure and tactical intelligence have established him as one of the Premier League’s most consistent performers.
“Being comfortable in both central defence and at right-back, Ezri will bring valuable versatility to our squad while maintaining the high defensive standards which are fundamental to our challenge of winning major trophies.”
The knock-on effect could be significant for Ben White. Everton admire the 28-year-old, who registered his first assist of the season against Coventry but has struggled to fully convince Arteta. With Konsa now in the building and Jurrien Timber already trusted, a sale of White would free funds for further business.
Arteta has been open about the equation.
“We are trying to improve the team, but it depends on some players leaving and the amount of money available to us after that,” he said before the Premier League opener. “So far, I am very happy.”
Arteta leans into prime-age experience
Arsenal’s recruitment this summer has had a clear thread: add proven, prime-age winners to a young core.
Bruno Guimarães and Konsa, both 28, fit that bill. Guimarães captained Newcastle to their first trophy in 56 years in the EFL Cup. Konsa was pivotal for England at the World Cup and for Aston Villa as they lifted the Europa League last season, ending a 30-year wait.
Arteta explained the thinking.
“Because we look at the squad as a whole, we have a young defensive line. In midfield, we already have the next generation with Ethan and Max,” he told Sky Sports. “At 28 they are in their prime and I think they are going to give amazing things to our squad.”
He doubled down on the importance of Martin Zubimendi too. After a strong first Premier League season, the Spaniard has seen minutes squeezed by Guimarães’ arrival, the re-emergence of Ethan Nwaneri and the return of Declan Rice. Chelsea and Real Madrid have been watching, but Arteta shut the door.
“No, he’s a really important player,” he said. “Without a doubt, he was one of the best players for Arsenal last season. Without him, we would never have got into the position that we got into in the last few weeks.”
Tzolis hits the ground running
On the left flank, Arsenal may already have pulled off one of the window’s smartest moves.
Christos Tzolis arrived from Club Brugge for £34m and has wasted no time. Two assists in the Community Shield win over Manchester City, another eye-catching display against Coventry. When Sky Sports picked their Player of the Match, the co-commentator called it a “toss up” between captain Ødegaard and Tzolis before siding with the Norwegian.
His signing followed the exit of Leandro Trossard to Besiktas. Trossard had become a key figure, scoring crucial goals – including the winner at West Ham that nudged Arsenal towards the title last season. But swapping a 31-year-old for a 24-year-old who already looks a constant threat on the left has the feel of a well-timed upgrade.
Jamie Carragher went further, calling Tzolis “an upgrade on Trossard and Martinelli.” Neville pushed back slightly – “I actually really like Martinelli” – but the direction of travel is clear. The new man is in, the old guard are under pressure.
Wright’s concern for Martinelli cut through that debate.
“If you bring Tzolis in and he’s looking at Tzolis, you’re thinking to yourself ‘I still have something to offer,’” Wright said. “I feel a bit sad for him. He’s done a lot in this squad to be treated more. I hope it all works out right for Martinelli.”
Youth, exits and a “wonderkid” secured
Not every early-summer prediction has aged well.
A CBS Sports report in May suggested up to eight players could leave: White, Gabriel Jesus, Nwaneri, Martinelli, Trossard, Havertz, Ødegaard and Cristhian Mosquera. Already, that looks wide of the mark.
Havertz and Ødegaard both scored against Coventry, with Ødegaard taking Player of the Match and matching his entire league goal tally from last season on opening night. Mosquera, signed from Valencia last summer, impressed alongside Gabriel in Saliba’s absence. Trossard has gone, but the rest remain in varying shades of uncertainty.
Jesus and Martinelli continue to attract interest from Serie A. Nwaneri, after a loan at Marseille, may seek more regular minutes, perhaps with another temporary move. White’s future hinges on offers and Arsenal’s need to fund further business.
One deal close to completion is at the other end of the age spectrum. Arsenal are set to finally land Blackburn Rovers striker Igor Tyjon after several windows of pursuit. The 18-year-old has played for Blackburn’s U21s, England’s U17s and even made his first-team debut in the EFL Cup last season. The Athletic reports Rovers will receive £1.2m up front, £2m in add-ons and a 20% sell-on clause – a far cry from the near-£5m they were offered last summer.
There is movement beyond Arsenal too. Former midfielder Thomas Partey, who left for Villarreal last summer after 167 appearances under Arteta, has now joined Al Shabab in Saudi Arabia, taking his Premier League and European experience to the Saudi Pro League.
Ødegaard’s ceiling and the “extra step”
If there is a symbol of Arsenal’s current level, it is Ødegaard. The captain was outstanding again against Coventry, scoring and orchestrating, and he believes the squad’s depth is now elite.
“I think the quality in the squad and team is unbelievable,” he told Sky Sports. “You can put so many players in the squad and we would be at an unbelievably high level. We push each other to be better in training to be better.”
Neville still sees another gear.
“If Arsenal had an Ian Wright up front, Odegaard would be even better because Havertz and Gyokeres want to come to the play rather than run in behind,” he said. “If Arsenal were to get an Alvarez, I think he would go up a level.”
That is the crux of this window. Arsenal already have a strong, deep, balanced squad. They have added prime-age winners in Guimarães and Konsa, injected fresh danger with Tzolis, and secured one of Europe’s more intriguing teenage forwards in Tyjon. Havertz is scoring, Ødegaard is purring, the defence looks reinforced.
But the feeling persists that one signing – the right signing – could tilt the entire project.
Arsenal are still pressing Atlético for Álvarez. They are still weighing up whether Yildiz is worth €70m and whether Martinelli becomes part of that calculation. They still need sales to unlock more spending. And they still have a fanbase watching every move, from Wright’s discomfort over Martinelli to Neville’s insistence that a world-class striker changes everything.
The squad looks ready to compete. The question that now hangs over the rest of this window is simple: will Arsenal find the forward who turns contention into domination?
